Hauppauge Digital (HAUP)
Company Profile: Hauppauge Digital makes analog and digital television tuner products for personal computers. Earlier this month at the Consumer Electronics Show in Las Vegas, the company introduced tuner devices that stream live television to the Apple (AAPL) iPad and iPhone, which boosted shares by more than 50%.Current Share Price: $2.66 (Feb. 7) Listing Violation: Minimum stockholders' equity. The Nasdaq Global Market requires a minimum stockholders' equity of $10 million for continued listing. Received Nasdaq Notice: Jan. 3 Management's Expected Action: Hauppauge Digital has until Feb. 17 to submit a plan to the Nasdaq to regain compliance with the minimum stockholders' equity listing requirement. The company can submit for approval a plan to regain compliance. If the plan is accepted, the Nasdaq can grant an extension of up to 180 days. Otherwise, the company would have to appeal to the Nasdaq's listing panel. Hauppauge Digital also noted that it can apply for a transfer to the Nasdaq Capital Market by Feb. 17, adding that it believes it meets such continued listing requirements of the Nasdaq Capital Market.
Vitacost.com (VITC) Company Profile: Vitacost.com is an online retailer and direct marketer of health products, including dietary supplements, metabolites, cosmetics, organic body and personal-care products, sports nutrition and health foods. In December, Vitacost.com revealed that financial statements over the past 16 years can't be relied upon due to accounting problems, and that management is considering a prepackaged Chapter 11 reorganization. Current Share Price: $5.70 (Feb. 7) Listing Violation: Annual shareholder meeting and proxy solicitation. Vitacost.com has not held its annual meeting of stockholders within the timeframe allowed under the Nasdaq's continued listing rules. Vitacost.com is also in violation of the Nasdaq's listing requirements over a public interest concern from December and a delinquent quarterly filing in November. Received Nasdaq Notice: Jan. 3 Management's Expected Action: Vitacost.com said it intends to address this issue at a hearing before the Nasdaq Hearings Panel, although no timetable was given. In December, Vitacost.com revealed in a regulatory filing that the Nasdaq has determined that "continued listing of the Company's securities on The Nasdaq Stock Market is no longer warranted."
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